$40k is about twice what i am willing to spend for the entire system. i think 1/3 for electronics and 2/3 for speakers, subwoofer, room threatment is a good allocation.

i am sure outlaw 978 will be a good example of that good electronics doesn't have to cost a fortune. i doubt it is that easy to hear difference between dacs but the cost of these chips is generally very low and maby only 1% of the cost for the entire system. still even the best dac ships has lover SNR than 24bits(144dB), ess sabre chips seams to be pretty close 24bit performance.